Raymond James Financial Lowers Canadian Imperial Bank of Commerce (TSE:CM) Price Target to C$155.50

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) had its price objective decreased by investment analysts at Raymond James Financial from C$157.50 to C$155.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s price target would suggest a potential upside of 5.21% from the company’s previous close.

Several other equities analysts have also recently weighed in on CM. Desjardins increased their price target on Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. TD Securities increased their price target on Canadian Imperial Bank of Commerce from C$142.00 to C$153.00 and gave the company a “buy” rating in a report on Friday, February 27th. BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. TD decreased their target price on Canadian Imperial Bank of Commerce from C$166.00 to C$163.00 and set a “buy” rating on the stock in a report on Friday. Finally, Scotiabank raised their target price on Canadian Imperial Bank of Commerce from C$153.00 to C$159.00 and gave the stock a “sector outperform” rating in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of C$152.86.

Canadian Imperial Bank of Commerce Stock Performance

Shares of TSE CM traded down C$3.16 during midday trading on Friday, hitting C$147.80. 1,734,083 shares of the stock traded hands, compared to its average volume of 2,541,456. The firm has a 50-day moving average of C$145.42 and a two-hundred day moving average of C$134.05. The firm has a market capitalization of C$136.03 billion, a P/E ratio of 15.41, a PEG ratio of 3.03 and a beta of 1.30. Canadian Imperial Bank of Commerce has a one year low of C$91.94 and a one year high of C$162.12.

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) last released its quarterly earnings results on Thursday, May 28th. The company reported C$2.54 earnings per share for the quarter. The firm had revenue of C$8.01 billion for the quarter. Canadian Imperial Bank of Commerce had a return on equity of 14.76% and a net margin of 17.63%. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 6.4127341 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.